Open Drive buying off the open created a massive short squeeze vaulting price up 20 handles during the morning session to reach STATX Zone…Only to give it all back and then some in the afternoon session as Crude Oil breached the $60 level, which created heavy margin selling. S&P is down approximately 3% off the high, which qualifies as a “normal correction”. We would now be anticipating responsive buying as price has reached measured targets at 2017 handle.
Today is Cycle Day 2 (CD2)…Odds of Rally > 10 = 83%; Odds of Rally > 20 = 45%; Possible High = 2058 – 60; Possible Low = 2017.00 Average range on CD2 = 14.50; Max Range = 22.25.
***Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Scenario 1: IF Price can get back above 2023.25 and stabilize, THEN there is a 60% chance of retracing back to 2032 – 36 zone…followed by 3D CPZ 2039 – 43.25 zone.
Scenario 2: Should selling continue into day session, initial target is projected low of 2017 handle…Violation of this level would force long liquidation down to 2009.75 TargetMaster Range Breakdown Level…Below this level are deep statistical extremes 2006 – 1999.25.
Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus of Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.
Stay Focused…Non-Biased…Disciplined ALWAYS USE STOPS!
I am detached from the results. I think in terms of the process and the validity of the process. I understand that I am more than the trading. I do not tie a fragile ego to any day’s trading results. I have faith that over time I will make money. The results of any one trade are statistically unimportant. I think in term of probability. A single trade says nothing about me as a person.